Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Peter V who wrote (2791)	9/16/1998 6:24:00 PM
From: Dr. Seuss	Read Replies (3) of 4634

Peter, Can't say about that, but I have had times when I freed up a ton of margin by selling longs or covering shorts and had subsequent trades cancelled due to insufficient funds. When I call E*Trade, they tell me that my recent orders hadn't been factored into my margin. They have offered to put in the trade, but only at current prices. For example, I tried to short ABTE the other day at 6 1/8, watched it tick up....my order sat there for quite a while and then came back insuff. funds (there was plenty of funds). I called and by the time I got a broker, the sucker was trading at 5 1/8. The broker said all they could do was enter the order at 5 1/8. I asked for a $1000 credit and he said no. Today, I had a margin call from yesterday due to a few overlapping trades.....I got a call from Etrade saying I had to take care of it by Monday. I pointed out that as soon as my trades clear, I would be fine. The person agreed and apologized for bothering me. 45 minutes later, some schmuck covered 400 shares of my ALTIF. This time the broker said something is wrong and they would call me back tomorrow. I am getting pissed at these on-line brokers. Sorry for the rant. I'm just pissed. Dr. Seuss

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